Greenwich Connecticut Real Estate Experts since 1985

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2016 was not the year for real estate professionals and sellers that it is now behind us. A review of all Greenwich Markets which include – Greenwich in the 06830 and 06831 zip code, Old Greenwich, Riverside and Cos Cob was a disappointment of the total market down -7.27% in comparison to 2015. It’s unfortunate the media focuses on the bigger numbers of the market reports, especially single family homes with a $5MM+ price, rather than a combined total.

One interesting area to point out was the market of residential sales increased by 8.25% in Cos Cob in the price point of $1.5-$2MM by 43.75%! These numbers showed patient sellers whereas the days on market went from 103 in 2015 to 153 to 2016.

Fortune Magazine reports however that Greenwich is just one market showing a decline in sales and luxury real estate sales nationwide has been effected. The negative reflects of a presidential election year that cannot be understated (Forbes.com 6/7/2016). Greenwich is always an area that is pointed out most, as it is the closest to New York City and has always been known as one of the richest towns. Reported foreign buyers are down as the treasury department, and the government is carefully reviewing foreign real estate transactions as suspicious, therefore suspicious or not, foreign buyers are backing out.

Goodbye, 2016 – Hello, 2017!

January 2017 already has shown some promising numbers. There was 71 in residential homes sold total in Greenwich, compared to 48 residential sold in 2016 up 47.9%. Pending listings for residential properties are also up – 72 pending residential homes from 46 pending residential sales a 56.5% change.

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Being one of the few independent Real Estate firms left in Greenwich (since 1985) everyone talks about Greenwich Avenue. I wanted to share as an outsider my love for the common term “The Avenue” – Greenwich Avenue.

As the winter months are upon us, Greenwich Avenue is the place to walk, dine at a variety of different cuisines and of course shop at some of the finest shops there are. Greenwich Avenue can be compared to the Rodeo Drive of Beverly Hills. Occasionally you may spot a celebrity or two. Most recently Justin Timberlake and Jessica Biel were spotted in the healthy and organic shop, Green and Tonic. So excited my co-worker and I ran out of our office only to find out they were in Green and Tonic the day before.

Greenwich Avenue has something for everyone. Take a stroll to Starbucks for your favorite beverage and take it all in. Restoration Hardware is a must to take a walk thru – once the Post Office the historic building now rebuilt to glamorous furnishings inside and out. In the summer experience outdoor arrangements and to the rooftop to get the feel of how you can update your space with beautiful outdoor furnishings.

The restaurants offer everything from Meli Melo, fresh everything with a juice bar and popular with the younger generation – my daughters favorite, when we dine is a fresh quiche with greens, a smoothie and then off to Brandy Melville – trendy fashion for young women. I have to admit; I like some of their trends. If you are looking for a little bit more upscale lunch or dinner one of my favorites is East End – Let me give a shout out as one of our Broker’s daughter is an owner. Another one of my favorites to kick back is the Gingerman – Beer lovers must go!!! Gourmet burgers, salads and in the winter try to sit by the roaring open fire. I googled how many restaurants there are on Greenwich Avenue and started counting; I stopped at 15 as I know there is more. If anyone knows the exact count – please contact me.

Finally – let’s talk shopping! Saks Fifth Avenue – An excellent choice for designer women’s clothing – just a note – there is no men’s clothing. Saks is the perfect place to find that special outfit, get a makeover with a purchase of some new cosmetics and the fragrances – my favorite is the Jo Malone counter. Just to name a few shops – Tory Burch, Stuart Weitzman, Ralph Lauren, Tiffany & Co., Baccarat, Manfredi Jewels and more.

So if you have a little cabin fever, make a trip onto Greenwich Avenue. Something for everyone! There are many listings rent/buy if you want to live on or close by the Avenue, also you can walk to Greenwich Avenue from the train station.

New York, New York (June 22, 2016)– Art Southampton, the season’s most acclaimed contemporary and modern art fair, will feature over 60 prominent international galleries and showcase tens of millions of dollars’ worth of the finest museum quality art, sculpture, and photography from the 20th and 21st centuries.

Christie’s International Real Estate is the official luxury real estate sponsor of Art Southampton, which runs July 7 through 11 at the iconic Nova’s Ark Project. Together with its international affiliates, Christie’s International Real Estate will host an elegant booth at the main entrance of the fair, showcasing luxury residential property offerings from around the world. Romanian-born artist, Mihai Popa, who called himself Nova, established the 95-acre sculpture park and gallery complex in The Hamptons to promote a new paradigm for contemporary art melding art, architecture and philosophy.

“David Ogilvy & Associates is honored to be an integral part of this cutting-edge event – one that defines the contemporary art scene and brings with it a mesh of collectors, curators and art enthusiasts from around the world,” said David Ogilvy, President, David Ogilvy & Associates. “We look forward to taking part for a second year in a row in this unique opportunity.”

“This event hosted by Nova’s Ark Project, captures the unique synergy between art and architecture,” says Kathy Coumou, Executive Director, Christie’s International Real Estate. “We are delighted to once again sponsor Art Southampton and showcase our top real estate listings from around the world, which themselves are works of art. Our effort also supports philanthropic initiatives, making this sponsorship all the more meaningful.”

The 2016 fair kicks-off with a VIP Preview Party, which will benefit the Parrish Art Museum and Southampton Hospital, on Thursday evening. Prominent collectors, curators, designers and decorators will have a sneak peak at this year’s offerings, which include blue chip modern and contemporary works from artists representing the emerging, mid-career, Post War and Pop eras.

Brooke Shields will co-curate The New York Academy of Art exhibition, Call of the Wild, with Academy President David Kratz. The show will feature paintings and sculptures by academy alumni that focus on the natural world and the animal kingdom.

The Affiliates of Christie’s International Real Estate posted global sales of $118 billion in 2015. The network—135 global affiliates with 32,000 real estate professionals in 45 countries—is by invitation-only to the world’s most qualified real estate specialists in the luxury residential sector.

Last year’s Art Southampton set a new standard in luxury presentation and attracted top collectors, cultural leaders and philanthropists of the East End. Over the fair’s five days, more than 21,000 collectors, art enthusiasts, curators and influencers visited the luminous 100,000 square foot pavilion.

About David Ogilvy & Associates

David Ogilvy & Associates, headed by David Ogilvy, long the recognized leader in high-end properties in Greenwich, Connecticut, is a major force in the Greenwich market. Noted as the most recognized firm for advertising and marketing, David Ogilvy & Associates is the proud exclusive affiliate of Christie’s International Real Estate in Greenwich. David Ogilvy & Associates has just represented both the buyer and the seller of the most expensive residential property ever sold by a broker in the United States of America, Copper Beech Farm, a 50-acre waterfront estate at $120,000,000. It had previously listed and sold what is now the second most expensive residential sale ever made here at $45 million, a magnificent 80-acre Conyers Farm estate. For more information about David Ogilvy & Associates, please visit www.davidogilvy.com

About Christie’s International Real Estate

Christie’s International Real Estate is an invitation-only affiliate network composed of the world’s most proven and qualified real estate specialists in the luxury residential sector. The company has offices in London, New York, Hong Kong, Moscow, Los Angeles, and Palm Beach, and approximately 135 global affiliates with 32,000 real estate professionals in 45 countries. For additional information please visit www.christiesrealestate.com.